Trexquant Investment LP Makes New $6.19 Million Investment in Boyd Gaming Co. (NYSE:BYD)

Trexquant Investment LP bought a new position in shares of Boyd Gaming Co. (NYSE:BYD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 85,388 shares of the company’s stock, valued at approximately $6,194,000.

Other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its position in Boyd Gaming by 80.3% during the fourth quarter. UMB Bank n.a. now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Boyd Gaming by 47.4% during the 4th quarter. GAMMA Investing LLC now owns 460 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the period. Quarry LP lifted its position in shares of Boyd Gaming by 150.1% during the 3rd quarter. Quarry LP now owns 873 shares of the company’s stock valued at $56,000 after buying an additional 524 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Boyd Gaming in the 4th quarter valued at $67,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Boyd Gaming in the 3rd quarter worth $64,000. 76.81% of the stock is currently owned by institutional investors and hedge funds.

Boyd Gaming Trading Down 2.4 %

Shares of Boyd Gaming stock opened at $61.81 on Friday. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 4.46 and a beta of 1.55. The stock has a 50 day moving average of $72.67 and a 200 day moving average of $71.06.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. As a group, research analysts predict that Boyd Gaming Co. will post 6.52 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, March 17th. Boyd Gaming’s payout ratio is 11.58%.

Insider Transactions at Boyd Gaming

In related news, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the transaction, the chairman now owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the transaction, the director now directly owns 1,472,970 shares of the company’s stock, valued at approximately $116,835,980.40. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,125 shares of company stock worth $5,158,490. 21.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and lifted their target price for the company from $73.00 to $92.00 in a research report on Friday, January 3rd. Susquehanna raised Boyd Gaming from a “neutral” rating to a “positive” rating and reduced their target price for the company from $79.00 to $77.00 in a report on Wednesday, March 12th. Wells Fargo & Company lifted their price target on Boyd Gaming from $82.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Truist Financial reduced their price objective on Boyd Gaming from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.